It's far easier to optimize for profit then theoretical ideals. The issue here isn't that they are optimizing for profit, the issue is that incentives have put that pursuit at odds with the university's core mission (education/community), as opposed to keeping it aligned with it.
Pursuit of profit should keep you accountable for the services you provide, not detract from them.
Pursuit of profit should keep you accountable for the services you provide, not detract from them.